Apple Reclaims Spot as Second Biggest Phone Maker with 50M iPhones Shipped

Apple reclaimed second place among the world’s top phone makers after having shipped out 50.4 million iPhones in the third quarter.

The iPhone maker reported on Oct. 28 a revenue increase of 29 percent from last year as the launch of its latest model supported sales, although the company also admitted that it was struggling with supply-chain issues.

Tim Cook, Apple CEO, estimated the loss from supply shortages to be at around $6 billion. He said in a conference call that the crunch was largely due to the global shortage in semiconductors which could not keep up with a “very robust” demand.

Despite limitations caused by shortages, Apple along with Amazon boosted the Nasdaq index to a record high at 15,448.12. Apple also reclaimed its spot as top phone maker, second to Samsung, after it was taken by China-based Xiaomi earlier this year.

Samsung remained at the top, although it also admitted to experiencing crunches from supply shortages and noted that their phone shipments may decline in the last few months of the year.

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